The Mail on Sunday: Comcast eyeing £11bn takeover of ITV

[Samantha 2911]

The Mail on Sunday is reporting that Comcast executives have met ITV bosses and are mulling a potential takeover bid of £11bn for the network (that's nearly $16.4 billion).

 

In 2014, ITV reported £2.6bn in revenue and a 40% increase in pre-tax profit. Since 2009 its stock has risen 500%.

[ToriElectra 292]

Comcast and ITV? it sounds weird at first, but then you realize that considering how far ITV has fallen since their glory days of the 70s (minus the big 79 strike) and 80s, they actually could be good for each other- it'd provide more funding for British-made stuff and allow NBC to utilize ITV's formats like Countdown, which could easily be on the NBC O&Os on weekend afternoons or something, and ITN already works closely with NBC News, I believe. Of course, this is all speculation.

[TheRolyPoly 2676]

You gotta be kidding me. Now Comcast wants to take over the world and lower competition in terms of television and the media in general. Why can't they just be happy with what they got?

[rkolsen 1697]

Keep in mind look at how well Comcast invested into NBC and turned it into a better performing network that has won the ratings (due to sports and other successes) for the past few years.

[plnewsfan 9]

I could see "The mission" as the ITV News theme tune.

[Samantha 2911]

Well, Comcast actually had to come out and deny the allegations vigorously:

 

“We don’t comment on M&A rumors but the speculation on ITV is just completely inaccurate,” spokesman John Demming told Variety.

 

ITV shares rose 4% today.

[johnnya2k6 171]

Over a decade or so ago, there were rumors about Viacom buying up ITV (as they still owned CBS at the time)...which were all shot down.

[lugnuts6 91]

And Viacom now owns Channel 5